By Johnny Liberty

Before a central bank and before the Federal Reserve Bank (FRB), the federal U.S. government corporation had to live within its means. And it did so for 126 years with few exceptions (1789 – 1915). Imagine that! 

1789 – 1860 – The federal U.S. government was virtually debt-free with a balanced budget until the Civil War.

1861 – 1865 – There was a proportional three-fold increase in the size of both outlays and the government, and five-fold increase in federal U.S. debt during the Civil War years.

1866 – 1915 – The size of the outlays and federal U.S. debt stabilized after Civil War, and the debt was paid off

Direct Veto Power Over Government Spending

The Founders knew what they were talking about when they vehemently opposed a central bank at the beginning of the constitutional Republic. When the federal U.S. government needed to borrow to finance this project, or that, to declare war, it had to borrow directly from the people by selling government securities (i.e., U.S. savings bonds or U.S. war bonds). Thus, We the People had a direct veto power over the spending policies of the United States and their political subdivisions.

These checks and balances did not please the European central bankers, as it did not make them any substantial profits. They were accustomed to arranging wars as they pleased. So the Federal Reserve Act of 1913 was created and foisted on the American people with the worst of intentions.

The Federal Reserve Act of 1913 offered an unlimited credit line to the federal U.S. government corporation which bypassed the will of the people and their respective states. , Since then, the federal U.S. government corporation has borrowed directly from the Federal Reserve Bank (FRB), forcing the American people to indirectly lend them the funds without their knowledge or consent, but nonetheless obligating them to pay the federal/national debt through the imposition of an “income tax”. 

This is the fundamental evil of “monetizing the public debt (Ø)”. It no longer mattered what the We the People wanted. The international central bankers were now in control of the American political machinery, and they have been ever since.

References:

1. Creature from Jekyll Island by Edward G. Griffin (American Media, 1994); Amazon
2. Critical Path by R. Buckminster Fuller, (St. Martins Press, New York, p. 81); Amazon

Source: Sovereign’s Handbook by Johnny Liberty (30th Anniversary Edition), Volume 2 of 3, p.62. 63

ORDER YOUR LIBERTY BOOKS TODAY!

Sovereign’s Handbook by Johnny Liberty 
(30th Anniversary Edition)
(3-Volume Printed, Bound Book or PDF)

A three-volume, 750+ page tome with an extensive update of the renowned underground classic ~ the Global Sovereign’s Handbook. Still after all these years, this is the most comprehensive book on sovereignty, economics, law, power structures and history ever written. Served as the primary research behind the best-selling Global One Audio Course.Available Now!

$99.95 ~ THREE-VOLUME PRINT SERIES
$33.33 ~ THREE-VOLUME EBOOK

Dawning of the Corona Age: Navigating the Pandemic by Johnny Freedom 
(3rd Edition)
(Printed, Bound Book or PDF)

This comprehensive book, goes far beyond the immediate impact of the “pandemic”, but, along with the reader, imagines how our human world may be altered, both positively and negatively, long into an uncertain future. Available Now!

$25.00 ~ PRINT BOOK
$10.00 ~ EBOOK